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Pastimes : The Philosophical Porch
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To: Steve Lokness who wrote (6659)1/10/2012 12:22:07 PM
From: Rarebird  Read Replies (1) of 26251
 
Good economic theory comes from experience of the real economy. Keynes believed the poor and middle class spend more than the rich, spurring demand. If you continue to take from the poor and middle income and give massive tax breaks to the rich, then the economy will suffer and growth will stagnate. Tax breaks should be initiated for the poor and middle income and tax hikes for the rich. Of course, what we have had since Reagan has been the exact opposite (for the most part) and the economy has paid the piper. The middle class has been squeezed and the rich have gotten richer. Supply side economics is a rip off and a lie; it does not provide a true foundation to stimulate the economy. It is at best a temporary fix, like heroine, which needs constant injections to suffice, slowly destroying the economy in the process.

Obama is a farce who has been bought off by the banksters and defense contractors.
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